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cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days. >>reporter: that right. the president had the governors in today and they underdiscover the fiscal cliff will not just impact the national economy but have a lot of impact on state and local economies, as well, and their state budgets, et cetera. the president, though, is standing firm. and jake carney saying unless the republicans give in on tax rates and raise the bush tax rates on the rich, there is no deal and the president is willing to go off the cliff. they hammered speaker boehner's proposal. >> we don't know who pays. we don't know what we are talking about in terms actual legislation to increas
cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days....
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cliff. house and senate republicans are dumbfounded over the latest proposal from keeping the nation from going over the fiscal cliff. the administration's plan includes 1.6 trillion in tax increases over the next 10 years. and over $600 billion in spending cuts and it is gop -- >> what is that? >> known, gt-o-p says even the cuts are offset by new spending proposals. lyndsay graham called it a joke. and when john baner asked what his initial reaction was, the house speaker was so angry he dropped an f-bomb. >> i was flabbergasted. for more on obama's plan let's go to dj mcpaw-paw mcwhiskers. >> that was amazing. he can really spin. you pay $35 to get him to show up. dan, when was the last time you were flabbergasted? isn't it hard to be flabbergasted? >> every time i read the business section. up and down i have so many stocks and stuff. >> say mutual funds. >> mutual funds and numbers. numbers. >> let me ask you, terry, is obama overreaching here? there is no reason to over reach here. exc
cliff. house and senate republicans are dumbfounded over the latest proposal from keeping the nation from going over the fiscal cliff. the administration's plan includes 1.6 trillion in tax increases over the next 10 years. and over $600 billion in spending cuts and it is gop -- >> what is that? >> known, gt-o-p says even the cuts are offset by new spending proposals. lyndsay graham called it a joke. and when john baner asked what his initial reaction was, the house speaker was so...
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washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had this or struck by lightning and the odds are about the same. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ malennouncer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ]
washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had...
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well, the whole fiscal cliff fight is supposed to be about cutting our ballooning debts. so why is the president not proposing a quarter trillion dollars in new spending? the question is also up next. plus, lindsey graham not missing words about the possibility of closing this prison camp and moving the prisoners here is michelle malcolm joins me live to discuss why he might not get his wish. and a desperate search effort. see why the young girl's mother is the prime suspect in removing her from the hospital. >> we were seeing them by the front entrance. and they walked into the bathroom. they disconnected her from her id and just walked up the front door and got into the car. [ male announcer ] if you're eligible for medicare, now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standard
well, the whole fiscal cliff fight is supposed to be about cutting our ballooning debts. so why is the president not proposing a quarter trillion dollars in new spending? the question is also up next. plus, lindsey graham not missing words about the possibility of closing this prison camp and moving the prisoners here is michelle malcolm joins me live to discuss why he might not get his wish. and a desperate search effort. see why the young girl's mother is the prime suspect in removing her...
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both parties taking to the airwaves this weekend, trying to blame each other over the fiscal cliff talk. this is all happening less than a month until accommodation of spending cuts and tax hikes kicks in. right now, it seems like both sides are moving further apart from the deal. here is house speaker john boehner and treasury secretary timothy geithner. >> we are flabbergasted. we have seven weeks between election day in the end of the year. three of those weeks have been wasted. >> we are not going to extend an extension of the tax rates. we think they need to go back to those levels. if you don't do that, you have to ask yourself, whose taxes are we going to raise? were we going to find the money bring a balanced plan in place? jenna: senator lindsey graham, a republican known for reaching across the aisle, not looking at this with a great deal of optimism. >> i think we're going over the fiscal cliff. it's pretty clear that they have made this happen. they are not saving social security and medicare and medicaid from imminent bankruptcy. jenna: james is live in washington with more
both parties taking to the airwaves this weekend, trying to blame each other over the fiscal cliff talk. this is all happening less than a month until accommodation of spending cuts and tax hikes kicks in. right now, it seems like both sides are moving further apart from the deal. here is house speaker john boehner and treasury secretary timothy geithner. >> we are flabbergasted. we have seven weeks between election day in the end of the year. three of those weeks have been wasted....
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with that they proposed a bold counter offer for averting the fiscal cliff. the republican plan seeks $800 billion through tax reform and mandatory spending cuts. the white house said that the republican proposal falls short of what the president wants and cannot be taken seriously. >> we understand they don't agree with everything but we have not seen alternatives for them and they spoke about the need for revenue and that acknowledgment is welcome. but thus far republicann leaders are adament don't believe rates should go up on the top two percent of the american people. the american people disagree. rates have to rise and the republicans need to acknowledge that. >> that's the major difference between the two sides. tax hikes for the rich x. republicans want tax reform and eliminate deductions and closing the loop holes. the president said on twitter, there can't be tax cuts at the rich at the expense of domestic programs. >> the biggest problem with president obama is he is a small-pinded president in big times . he talk about 35-39 that doesn't get us ou
with that they proposed a bold counter offer for averting the fiscal cliff. the republican plan seeks $800 billion through tax reform and mandatory spending cuts. the white house said that the republican proposal falls short of what the president wants and cannot be taken seriously. >> we understand they don't agree with everything but we have not seen alternatives for them and they spoke about the need for revenue and that acknowledgment is welcome. but thus far republicann leaders are...
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they want to go off of the fiscal cliff. then negotiations fail president obama will not get blamed. it is someone else. >> gretchen: marjorie that sounds right other than the middle class getting hit with a tax hike isn't everything that ron just part of the dnc. >> it is it a big issue. president obama and really american people don't want to see middle class americans pay additional 2000 in taxes n which is what will happen in addition to cuts to programs . we want to cut and the american people want to see cut. there is it a few things. first more americans would blame the republicans and not president obama if we went off of the fiscal cliff. that is a motivation. >> brian: yeah. >> gretchen: ron, why do they feel that way? >> brian:ip totally agree with you. looking at polls and say republicans will get blamed and so why not runuss off of the cliff. >> republicans should have their own plan. the majority of americans in exit polls have said we should balance and ask the wealthiest to pay more. >> gretchen: wait, wait,
they want to go off of the fiscal cliff. then negotiations fail president obama will not get blamed. it is someone else. >> gretchen: marjorie that sounds right other than the middle class getting hit with a tax hike isn't everything that ron just part of the dnc. >> it is it a big issue. president obama and really american people don't want to see middle class americans pay additional 2000 in taxes n which is what will happen in addition to cuts to programs . we want to cut and the...
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this fiscal cliff negotiation seems doomed. am i being pessimistic? >> we're basically spending like europeans, but being taxed like americans. at some point you got to decide which you want. basically american government spending now is getting close to norwegian levels. and at that point, you can't have american tax levels. >> brian: what is their level? >> they spend 46% of gdp and people pay that. that's reflected in their taxes. america is basically borrowing $188 million every hour in washington. seven days a week, 24 hours a day, thanksgiving, ramadan, whatever. that gap cannot be closed by sticking to to the rich. >> brian: don't you think the president realizes that or do you think he fully realizes that in. >> oh, yeah, he does. this is the cunning thing. he's going to blame it on the rich, blame it on the republicans. but right now if you're just an average working guy with an average income, your taxes are going to go up because for him -- pour for the president, it's not about the economy. it's about government. it's about the size of gov
this fiscal cliff negotiation seems doomed. am i being pessimistic? >> we're basically spending like europeans, but being taxed like americans. at some point you got to decide which you want. basically american government spending now is getting close to norwegian levels. and at that point, you can't have american tax levels. >> brian: what is their level? >> they spend 46% of gdp and people pay that. that's reflected in their taxes. america is basically borrowing $188 million...
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that's how i want to solve the fiscal cliff problem, is spending more taxpayer money. so, the president doesn't have the authority to raise the debt ceiling, he shouldn't have the authority. congress, as you all mentioned earlier is in charge of the money, the purse in the united states. >> dave: of course, there wasn't just that ability to continuously raise the debt ceiling, and 1.6 trillion in new taxes, 50 billion in new stimulus spending, to mention a couple of provisions in his offer. is there any, any room for compromise where we are right now in avoiding the fiscal cliff? >> well, there will have to be some compromise, there will have to be some plan, but the president's proposal is so ridiculous. the idea that he's going to raise taxes, really fwe just followed his plan, wouldn't solve the problem anyway, because the spending is so much. and that he wants to spend more money, he wants to-- another stimulus bill. the first one didn't work well for the country, but yet, we cannot spend our way into prosperity and tax our way into prosperity, which is what the pr
that's how i want to solve the fiscal cliff problem, is spending more taxpayer money. so, the president doesn't have the authority to raise the debt ceiling, he shouldn't have the authority. congress, as you all mentioned earlier is in charge of the money, the purse in the united states. >> dave: of course, there wasn't just that ability to continuously raise the debt ceiling, and 1.6 trillion in new taxes, 50 billion in new stimulus spending, to mention a couple of provisions in his...
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it is a republican compromise solution to the impending fiscal cliff. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising taxes on the rich, the president is ready to go off the cliff. >> right now i'd say we are nowhere, period. nowhere. >> john boehner declaring a stalemate in an exclusive with fox, as republicans teed off on president obama first offer that included new spending plus 1.6 trillion in tax hikes. totally unacceptable. >> i think we are going over the cliff. it's clear to me they made political calculation. white house officials insisted disaster could be amended and demanded a counter offer on the table. >> what we hope for is specificity from the republicans. >> an hour lat
it is a republican compromise solution to the impending fiscal cliff. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising...
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say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from entitlement reform will not be part of the talks while pelosi spell noncommittal whether the cuts will be in the deal. still, the administration is trying to breathe life to the talks, with vice president biden shopping at new costco in washington, picking up a big screen tv and apple pie and insisting he is optimistic of a deal. >> i am. i am. all the folks in the store, man. going to make a difference. >> carney shot down a politico report that a phone call last night between boehner and the president was curt, noting it was 28 minutes long and productive. signaling the president is flexible on taxes not being
say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from...
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if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own economics, and i can't think what kind of morale authority do we have in the world when we look so pathetic, so pathetic in terms of how we handle things and the fact that we don't? >> the problem with the american people is today they are -- greta, they are as deeply divided and polarized as we have almost ever been. look what boehner is could go right now in making a deal. he's violates his fundamental principles. he's violatings a commitment he made to the american people. he's doing something that he thinks will hurt the american economy, $800 million of tax on job creators, he's splitting his party, he'
if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own...
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spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line. the american economy is on the line and this is a moment for adult leadership. >> perhaps most su prirprising the white house proposal to get the president just about unlimited power to raise the nation's debt sealiceiling and w more and more money unless they reject. these will be tough negotiations ahead. we got a little sample of this yesterday from senate majority leader talki
spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending...
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and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the republican position, the republicans campaigned against $716 million in medicare cuts from the current program. republicans for medicare reform. not for squeezing the current program. they will say i want to give the middle class, make sure the middle class tax rate stay where they are. i don't want the republicans to squeeze medicare more than we did, have done in the past. i'm worried. that the president has an awful lot of leverage. >> bret: but you have the democrats, juan, like mike pryor of arkansas who told politico this -- "as you know people around here like the
and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the...
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by now you likely know that the fiscal cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the white house. how much much revenue would the president's plan raise by raising the tax rates for high earners? >> about $1 trillion the next 10 years from the rate increase. that is just part of a package that also includes limits on deductions and tax credits and aims to pull in a total of $1.6 trillion. republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible
by now you likely know that the fiscal cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the...
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go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put on the table. >> dana: that is going to be on -- >> bob: that is what is going to be on the table. >> dana: republicans held their feet on the fire. >> bob: whatever it took. >> greg: i used to think howard dean was a proctologist because he had his head up his butt but he pulled the curtain back. it's never about raising taxes on the rich because you run out of rich. >> andrea: right. >> greg: that is the point. >> eric: raise tax on everyone who pays taxes or everyone? everyone means the poor and 47% will start paying. >> greg: if you raise taxes up 2%, eight days of government? >> andrea: the dirty
go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put...
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cliff which would trigger tax cuts and spending increases unless taxes increase on the top two percent of wage earnings. >> i want you you to understand when it comes to raising taxes on the wealthy. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the president is playing a very dangerous game of chicken and this is with your paycheck and the american dream. meanwhile, the republicans have allowed themselves to get caught in a circular firing squad. they're negotiating publicly among themselves while true conservatives and tea party members are being removed from key committees. today speaker john boehner adopted the president's class wawarfare rhetoric. shocki
cliff which would trigger tax cuts and spending increases unless taxes increase on the top two percent of wage earnings. >> i want you you to understand when it comes to raising taxes on the wealthy. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the...
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on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president
on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish...
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all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end of the world. >> we will have taxes that are the same as the taxes were under bill clinton. we did find that we will do fine. >> the question is whether the negotiations will lead to making other tough choices such as washington getting a handle on the growth of government. if not, the european example seems to suggest fiscal trouble to our shores as well. >> john: thanks. the stock were mixed. dow gained 81. s&p 500 up 4. president obama visits detroit and he will see upset people there. mike tobin has the effect. >> michigan democrats say they can't stop, as the republicans have the numbers so despite the angry protests the legislation that rick schneider calls freedom to work will pass the final vote on
all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end of the world. >> we will have taxes that are the same as the taxes were under bill clinton. we...
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. >> reporter: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to brink of default again, i will not play that game. >> republicans held their own meeting with small business owners denying they're trying to punt. >> i'll be here and available at any moment to sit down with the president to get serious abouting the problem. >> they noted the president has not scheduled any meetings with the g.o.p. leaders in weeks. not offered any counterproposal to boehner's plan from last week. >> a balanced approach the president has been asking for. now we need response from the white house. >> reporter: they continue to insist the impediment to the deal is boehner's tax revenue is not
. >> reporter: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to...
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the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that? >> because the president thinks he has a mandate from the whole country. he thinks he can get anything he wants. i am sure that alan colmes loves this idea. here are the problems. the congress has the authority to authorize the debt. they also have the authority to authorize the bill that pays the debt. so now the president wants to take that away. this guy has shown a tendency to say that i don't need congress. i can pass laws with a stroke of a pen on executive orders. he doesn't need the supreme court because he declares laws unconstitutional, like doma. he says he wants an unlimited credit car
the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that?...
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and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> now, republics may not want to include the debt ceiling extension lifting that ceiling in these negotiations because the ceiling doesn't need to be lifted for a couple more months. if they come back next year and deal with that part of this, they might have more leverage as we get closer and closer to that deadline to force the president into more spending cuts than he wants right now, harris. >> harris: well, editor all those americans wondering and watching rights now, 27 days, how close are we. we heard the speaker say he is waiting to hear back from the white house. i would think that would be in
and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game....
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>> if you take them at their word, it sounds like the president is anxious to go over the fiscal cliff, and he leaves very little room for republicans to negotiate with him with a 1.7 trillion dollar tax increase, 50 billion more in stimulus spending, and absolutely no expenditure reductions that are going to take place right now. i mean, from the point of view of republicans, you're going to get more spending decreases if you go over the fiscal cliff than if you deal with president obama. >> greta: well, it appears to many in the city that it's politico check mate for the president. if we go over the fiscal cliff, what it means is the taxes will go up on the wealthy, the big earners. it also goes up on the middle class. i assume the middle class will look to the rawp republicans foe fact that their taxes come up so political check mate. >> i'm not so sure. president obama could avoid that very simply by putting maybe two or three to one expenditure reductions on the table for revenue increases, something like sim responsibl simpson bow. he has a formula given to him by a commission he
>> if you take them at their word, it sounds like the president is anxious to go over the fiscal cliff, and he leaves very little room for republicans to negotiate with him with a 1.7 trillion dollar tax increase, 50 billion more in stimulus spending, and absolutely no expenditure reductions that are going to take place right now. i mean, from the point of view of republicans, you're going to get more spending decreases if you go over the fiscal cliff than if you deal with president...
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cliff -- the real fiscal cliff is national bankruptcy, and its imminent if we don't cut spending and entitlements . obama is a bully, inflection i believe, making demands we can't accept because his demands involve spending increases, no spending reductions, tax increases on two percent of people who won't do anything with revenues. it's totally unacceptable. at least under the fiscal cliff we have some mandatory cut, albeit us proportionately to defense spending. but it's better than accepting obama's terms crammed down our throat. boehner needs to get a told of this pr machine and paint obama as the one who is holding the country hostage. he wants to talk about holding the middle class hostage. no, it's him holding the entire country hostage and our kids hostage to his reckless spending and cynical refusal to enter the entitlement reform game. >> i don't even want to hear more about taxes. juan, shaking your head. >> i hear you, gentlemen. you guys are wonderful. merry christmas. but sean you said hyperpartisanship, and david talks about inflexibility. you know, and i'm thinking to
cliff -- the real fiscal cliff is national bankruptcy, and its imminent if we don't cut spending and entitlements . obama is a bully, inflection i believe, making demands we can't accept because his demands involve spending increases, no spending reductions, tax increases on two percent of people who won't do anything with revenues. it's totally unacceptable. at least under the fiscal cliff we have some mandatory cut, albeit us proportionately to defense spending. but it's better than accepting...
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the clock particulars towards that fiscal cliff deadline on january 11. mike emanuel is live. we are still getting hard lines from either side about where they stand on this. what is really happening behind the closed doors? are they closer to a dole? >> reporter: jenna you're right about a lot of tough talk in public, but behind closed doors we know the president, the speaker of the house john boehner had a phone call late yesterday, the first call they had in a week. there has not been much in the way of leaks as to what was discussed. most folks on capitol hill may suggest that no leaks means they are getting down to serious movement on finding a compromise to avert the fiscal cliff. because in public the treasury secretary was asked yesterday if the administration is prepared to go over the fiscal cliff. check this out. >> is the administration prepared to go over the fiscal cliff. >> absolutely. we see no prospects for an agreement that doesn't involve those rates going up on the top 2% of the wealthist. remember it's only 2%. >> reporter: most peopl
the clock particulars towards that fiscal cliff deadline on january 11. mike emanuel is live. we are still getting hard lines from either side about where they stand on this. what is really happening behind the closed doors? are they closer to a dole? >> reporter: jenna you're right about a lot of tough talk in public, but behind closed doors we know the president, the speaker of the house john boehner had a phone call late yesterday, the first call they had in a week. there has not been...
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well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and includes more than a trillion dollars in spending cuts. but monday none of them he really detailed. in addition the plan called for changes to the so-called entitlement programs, increasing the eligibility age for medicare and lowering the annual cost of living hikes for social security hikes. flu our -- put theirs on the table and dared republicans to do the same. >> they have done that tonight. the officials saying that the counter offer is ridiculous. they are hammering the fact that there is not enough in terms of tax reve
well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and...
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. >> republicans offered a plan to avoid the fiscal cliff through significant spending cuts. >> we put revenue on the table as long as it's accompanied serious spending cuts to avert the crisis. >> the bipartisan bowl deficit plan had savings worth pursuing. >> they identified $1.1 trillion tax expenditures, benefits, deductions, credits and the like that could be cut as part of a grand bargain. i think we ought to look at that flat ten the code simplify it. >> harry reid told reporters yesterday he would like to get credit for what congress has previously cut. >> we have already done more than a billion dollars worth of cuts. >> the top democrat in the house took a similar approach. >> it is important to know that we have already agreed to over a trillion and a half dollars in cuts at both budget control and others in this session of congress. so now we are looking to see if we can do that. >> though asked what she would be willing to slash as part of this deal rank and file house members say they realize more must be done now. >> we get a senfolks making a mn dollars a year maybe the
. >> republicans offered a plan to avoid the fiscal cliff through significant spending cuts. >> we put revenue on the table as long as it's accompanied serious spending cuts to avert the crisis. >> the bipartisan bowl deficit plan had savings worth pursuing. >> they identified $1.1 trillion tax expenditures, benefits, deductions, credits and the like that could be cut as part of a grand bargain. i think we ought to look at that flat ten the code simplify it. >>...
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. >> is the administration prepared to go over the fiscal cliff? >>> oo absolutely. >> the president had support on raising tax rates on upper income earners. republicans have support the putting more emphasis on government spending rather than just simply raising taxes. the republican leaders in congress meantime who also met with business leaders yesterday said they have already offered to raise taxes by cutting deductions for upper earners an the president has yet to counter their proposal. >> i will be ready to sit down with the president to get serious about the problem. >> it is possible the white house could be bluffing the administration ordered the pentagon to begin considering the big spending cuts that would hit military spending if in fact we goefr the cliff. >> back to you. >> doug luzader, thank you. >>> we heard what the lawmakers are saying but what about the taxpayers they represent? it's their bank accounts that would be impacted. >> so i went to times square in new york to find out who is talking about the fiscal cliff? >> we are
. >> is the administration prepared to go over the fiscal cliff? >>> oo absolutely. >> the president had support on raising tax rates on upper income earners. republicans have support the putting more emphasis on government spending rather than just simply raising taxes. the republican leaders in congress meantime who also met with business leaders yesterday said they have already offered to raise taxes by cutting deductions for upper earners an the president has yet to...
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cliff balance. >> that's right. they say he is focused as you heard in that sound bite about taxes and that part of it. they are not hearing a lot about spending cuts which republicans obviously think is the big driver of the debt issue. when the president is now demanding that raising the nation's debt ceiling combined in this deal. what republicans like mitch mcconnell think is going on the president just wants to spend more money. listen. >> what the president is really interested in as we learned just yesterday, is getting as much taxpayer money as he can first by raising taxes on small business that he believes are making too much money and then on everybody else. not so he can lower the debt or the deficit but so he can spend to his heart's content. as a result some democrats have pushed the president to just raise the nation's debt ceiling on his own. they believe he has that executive power by invoking the 14th amendment of the constitution. but jay jay cancer carney the white house spokesman has studied tha
cliff balance. >> that's right. they say he is focused as you heard in that sound bite about taxes and that part of it. they are not hearing a lot about spending cuts which republicans obviously think is the big driver of the debt issue. when the president is now demanding that raising the nation's debt ceiling combined in this deal. what republicans like mitch mcconnell think is going on the president just wants to spend more money. listen. >> what the president is really...
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president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that position. >> the only way we'll get action on this debt. we keep spending and spending and raising our debt by $6 trillion every obama term. that's what catastrophic. the republicans need to stick to the boehner rule. a dollar of spending cuts for every dollar in spending increases. why give in on taxes and the fiscal cliff fight when you will have all the leverage. megyn: simon? >> in the rasmussen poll that came out today the republicans lost 10 points since the election in the congressional generic fight. they are losing this economic argument right n
president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that...
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cliff avoider meant to address spending includes measures that hike spending? >> well, you'll getting there. i mean, i think it's curious to-- >> well, let me-- seriously, i have not even gotten a sense of where there is. >> well, here is the point, neil. you mentioned at the opener and again that this is about addressing spending. of course it's about addressing spending, but that's not the only i think it's about. there's obviously, there's two ways to address this, right, through spending and through revenue. it's about both those things and the president has said that he's open to entitlement reform no matter what nancy pelosi says, and so, i think it's on the table. >> i wish i could-- >> adam. he doesn't have a valid proposal here. >> give me one detail that he's put out there in terms of containing entitlements, he's not. he rejected his own panel's recommendations and this is a guy who is dead set on his agenda, which is expanding the entitlements, not contracting it and i still haven't heard a rational reason why you need to raise taxes right now. you
cliff avoider meant to address spending includes measures that hike spending? >> well, you'll getting there. i mean, i think it's curious to-- >> well, let me-- seriously, i have not even gotten a sense of where there is. >> well, here is the point, neil. you mentioned at the opener and again that this is about addressing spending. of course it's about addressing spending, but that's not the only i think it's about. there's obviously, there's two ways to address this, right,...
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plupging off the fiscal cliff would be a buzz kill at the end of the year, wouldn't it? a 1-2 punch. not only higher taxes but spending cuts that could effect everybody from students to senior citizens. u.s. senate is hitting iran with new punishments for nuclear program. this time the white house says it's against the move. and a 70-year-old tennis referee charged with murdering her husband of half a century. police say blood splattered all over the house. she says she is innocent. wait until you hear what a judge just did. that's coming up as we approach the bottom of the hour and the top of the news on a friday fox report. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's t
plupging off the fiscal cliff would be a buzz kill at the end of the year, wouldn't it? a 1-2 punch. not only higher taxes but spending cuts that could effect everybody from students to senior citizens. u.s. senate is hitting iran with new punishments for nuclear program. this time the white house says it's against the move. and a 70-year-old tennis referee charged with murdering her husband of half a century. police say blood splattered all over the house. she says she is innocent. wait until...
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we continue to get closer to the fiscal cliff. i think that the president should take a case study and look at calvin coolige and john f. kennedy when they went in and lowered tax rates and you increase revenues which is what we are talking about. >> did you feel like it was a bait and switch from president obama and what you heard about in the campaigns. light on the details . i heard from members of congress that that is not what you thought was going to happen. >> you are absolute low right. what you see happening right now, dana is the art of politics and verse us the science of good policy. we need to move away from campaign mode and stimulate economic growth and wealth expansion and not wealth distribution. when the president is focused on the wealth distribution politic which thomas jefferson and hamilton lincoln talked against we are headed on down the wrong path. more people are pushed to food stamps and more people pushed to poverty and unemployment situation is going to get worse. we have seen that recently with the wee
we continue to get closer to the fiscal cliff. i think that the president should take a case study and look at calvin coolige and john f. kennedy when they went in and lowered tax rates and you increase revenues which is what we are talking about. >> did you feel like it was a bait and switch from president obama and what you heard about in the campaigns. light on the details . i heard from members of congress that that is not what you thought was going to happen. >> you are...
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so that means, while america is hurled head first off the fiscal cliff, the obama will spend 21 days golfing, body surfing and lunching to the tune of $4 million taxpayer dollars. you can't make stuff up. >> kimberly: that sounds good to me. >> dana: the reporters would have complained if they spent 21 days in waco. but 21 in hawaii could be worse. he said let's make sure we get it done before christmas. get it done on december 16, sign it, get out of town. >> eric: $4 million. >> bob: if he was in the bathroom at the white house it would cost $4 million. >> eric: december 17 to january 6. fiscal cliff hits december 31. smack dab in middle of this vacation. he snub hawaii, body surfing. >> kimberly: conduct unbecoming. he said in the last 30 days he got woke up in one debate. other than that, he is kicking it on the "the view." check me out. pinch with a limp. >> brian: i believe he knows it's his economy now. clearly. he goes on vacation. if this is done he is not body surfing. he knows he will be tortured and ongoing katrina. john boehner is frustrated after a closed door meeting w
so that means, while america is hurled head first off the fiscal cliff, the obama will spend 21 days golfing, body surfing and lunching to the tune of $4 million taxpayer dollars. you can't make stuff up. >> kimberly: that sounds good to me. >> dana: the reporters would have complained if they spent 21 days in waco. but 21 in hawaii could be worse. he said let's make sure we get it done before christmas. get it done on december 16, sign it, get out of town. >> eric: $4...
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going over the fiscal cliff is serious business. i am here seriously trying to reresolve it. >>reporter: a lot of people wonder if speaker boehner is trying to show he is fighting against some of the tax changes and he will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his party, the conservative part that doesn't want him to act like he is moving and that is who he is talking to today? >>reporter: they want him to dig in. they want him to completely resist essentially going back to the old clinton administration tax rates of 39.6 percent on the top level. the bottom line when you ask about whether there is any progress there are signs of progress from the white house briefing and carney today said the president said in this phone call to speaker boehner, any deal has to have the rates going up but in the end, carney said it doesn't necessarily, he didn't say this dire
going over the fiscal cliff is serious business. i am here seriously trying to reresolve it. >>reporter: a lot of people wonder if speaker boehner is trying to show he is fighting against some of the tax changes and he will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his...
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we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the american people. >> it is unacceptable for republicans to hold middle class tax hostage because they refuse to let them go up on the wealthiest americans. >> people saying that the deal he offered doesn't look like a deal. steve is live in the washington bureau. is there any movement on either side. >> not much. a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts fo
we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the...
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jon: talk about government spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a local costco here in washington, d.c., proclaimed himself optimistic they would get a deal. the fact of the matter yesterday, erskine bowles, a key player as well, saying he is slightly pessimistic. he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll be on air. >> reporter: i will give you a copy of the menu. jon: please do, thanks. jenna: we'll forget about politicians just for a moment. i promise we'll return th
jon: talk about government spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a...
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particularly if we fall off the fiscal cliff. the united states, the largest economy in the world, but yet we have the largest debt in the world. that's why the conversation needs to go to spending. what are we doing with all this money? unemployment, skyrocketing at 9%, but a slow-down in our gdp. >> sean: the real cliff is what you're saying, down the road, when it's $20 trillion in debt, when it's not $16 trillion. >> doesn't matter. say we put in place revenue to come in to the door, what are we going to do with it? >> sean: they've already spent it. >> that's so true. it's already spent. >> anytime they raise more taxes, more revenue coming in, they spend it. the beast of government is ravenous. they never cut back. you're exactly right, sean, the real fiscal cliff is when the laws of economics kick in, which they will inevitably do, they have to do, because it can't go on like this. you see the results of hitting the wall in greece, in spain, i3 italy. it will happen here. unlike the european countries, there's nobody to ba
particularly if we fall off the fiscal cliff. the united states, the largest economy in the world, but yet we have the largest debt in the world. that's why the conversation needs to go to spending. what are we doing with all this money? unemployment, skyrocketing at 9%, but a slow-down in our gdp. >> sean: the real cliff is what you're saying, down the road, when it's $20 trillion in debt, when it's not $16 trillion. >> doesn't matter. say we put in place revenue to come in to the...
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cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. why does my mouth feel dryer than i remember it to be? there are more people taking more medication, so we see people suffering from dry mouth more so. we may see more cavities, bad breath, oral irritation. a dry mouth sufferer doesn't have to suffer. i would recommend biotene. the enzymes in biotene products help supplement enzymes that are naturally in saliva. biotene helps moisten those areas that have
cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay,...
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we'll try to listen in a little more to see what he has to say about the fiscal cliff and otherwise. >> entirely on spending cuts, or a variation that has emerged is that we can do so while still lowering rates by closing loopholes and deductions. and you've heard from my team but let me just repeat. we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out
we'll try to listen in a little more to see what he has to say about the fiscal cliff and otherwise. >> entirely on spending cuts, or a variation that has emerged is that we can do so while still lowering rates by closing loopholes and deductions. and you've heard from my team but let me just repeat. we don't have any objection to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get...
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tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not affected by the top 2 percent. having said that, they want people to get back to work. people to have jobs to have incomes to buy from the small business people. blue are small or large you want to know which, how are the laws going to be, what are the tax lie bills going to be, and this congress owes it to the american people to tell them. >>eric: congressman, america has always been about hard working people earning, creating jobs, creating opportunity, passing a better life on to the next generation, to their kids, i don't know, at some point maybe you say it is time to man up, go over the fiscal
tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not...